When it comes to workplace performance, the landscape is complex. So many elements are co-dependent, or can have a knock-on effect. Onboarding and engagement definitely fall into this category. Both are intrinsically linked, and play an important role in determining the overall success of your business.
To explore the relationship further, let’s take a look at what each term means.
- Onboarding is a process, and is used to describe the way in which new recruits are welcomed, trained, monitored and integrated. Every onboarding procedure is unique, and should be tailored to fit the individual needs of a company.
- Conversely, engagement is a symptom and refers to an employee’s emotional experience with a company. Basically, new recruits arrive as blank canvases. It’s up to the company to determine how they experience their role, and their level of engagement.
So how are the two linked? Basically, onboarding plays a key role in lifting engagement. In fact, a lacklustre onboarding experience is one of the biggest triggers of employee disengagement.
Why engagement matters
So, why is engagement so important? Influencing everything from employee productivity to customer satisfaction, employee disengagement is a looming issue in today’s global workforce. How big? Here’s some eye-opening stats to put it into perspective.
Only 13% of employees are engaged
Worldwide, just 13% of employees are engaged. Yep, the number is worryingly feeble and Aussie workers are no exception. With such jaded employee engagement statistics, the chances are your business could also be suffering.
89% of employers think employees leave for more cash
This is a great statistic, as it illustrates just how out of touch employers can be with the needs of their employees. Turns out, just 12% of employees leave their jobs because they’re dreaming of a bigger paycheck. Meanwhile, a huge 75% of employees leave because of their boss.
70% of Forbes Global 2000 Companies use gamification
Gamification. It’s big, it’s fun and it’s created a serious buzz within the workplace engagement industry. If you want to really bolster your employee engagement levels, why not try experimenting with gamification?
40% of employees know their company’s goals
Just because an employee works for a business, it doesn’t necessarily mean their goals are aligned with the goals of the company. In fact, 40% of employees have no idea what their respective companies are working towards. If you want your employees to act as ambassadors, an in-depth understanding of company goals is a must.
43% of engaged employees receive weekly feedback
Regular feedback is such an important part of keeping employees engaged, and should never be underestimated. The proof is in the stats, with 43% of engaged employees receiving weekly feedback.
Engaged employees generate 2.5 X more revenue
This is a BIG one. Companies fronted by engaged employees generate 2.5 X more revenue than their disengaged counterparts. If this doesn’t’ illustrate the value of employee engagement, nothing does!
Highly engaged employees are 87% less likely to leave
The cost of hiring a new employee can be sky high, even for low paying, high turnover jobs. That’s why businesses should be doing everything in their power to minimise turnover, and hang onto high value employees.
The importance of onboarding
As for onboarding… It’s not quite as high profile as employee engagement, but it’s just as important. In fact, given that onboarding has a direct impact on engagement, it could be argued that it’s even MORE important! Want proof? Check out these stats that remind us just how important an effective onboarding process really is:
Onboarding can boost employee retention by 69%
The verdict is in, and apparently 69% of employees are more likely to stay with a company for at least three years if they were supported with a great onboarding experience.
Up to 20% of employees bail in the first 45 days
If you find yourself losing employees within their first 45 days, it could be time to rethink your onboarding process. The first two months are a delicate period, and onboarding exists to help employees navigate this time, and emerge as valuable members of the team.
Replacing an employee can cost up to 20% of their salary
Even on a modest salary, replacing employees can cost businesses big time. That’s why it’s so important to hire once, and hire smart. In any industry, a structured onboarding process plays an essential role in retention.
Almost 33% of new hires look for a new job within their first six months
They may have just started, but that doesn’t stop new recruits from dreaming of a better, more engaging workplace experience. With an inspired onboarding process in place you can minimise the risk of losing new staff, and instead keep them focussed, motivated and valuable.
60% of companies fail to set milestones for new employees
Beyond offering new employees a warm welcome, effective onboarding strategies should incorporate goals and milestones.
Most new hires don’t hit full productivity until eight months into the job
Even the most experienced of new employees won’t typically hit full productivity until eight months into the job. With such a long learning curve to overcome, it’s critical to ensure that they’re supported by a robust onboarding process, every step of the way.
Longer onboarding processes see staff hit full productivity 34% faster
If you’re alarmed by the fact that it takes employees eight months to hit full productivity, why not consider increasing the length of your onboarding process? According to experts, it can fast-track the learning curve by 34%.
35% of top performing companies begin onboarding before day one
If you want to compete with best-in-class companies you’ll need to kickstart your onboarding process before day one. This means setting up new employees with accounts, paperwork and a general sense of belonging before they start.
Onboarding boosts new hire productivity by 50%
This stat speaks for itself. With a structured onboarding process in place, you can expect 50% more productivity from your new hires. If you’re tossing up over whether to invest in restructuring your onboarding procedure, this stat confirms that it is worth your while.
Formal onboarding increases manager satisfaction by 20%
Hiring, training and integrating a new employee can be incredibly stressful from a manager’s point of view. But with a formal onboarding procedure in place, stress drops and satisfaction spikes by 20%.
What does it all mean?
In a nutshell, onboarding creates the positive first impressions and experiences that are essential to ongoing engagement. These statistics not only illustrate why each is so important, but also serve as a bit of a wakeup call for businesses that haven’t got tactical onboarding and engagement strategies in place.
Want to know more about how you can bolster your onboarding procedure, and simultaneously boost employee engagement levels? Get in touch with one of our friendly reps today to chat about how Ento could transform your employee experience. Developed as a holistic workplace management and rostering solution, Ento is designed to help businesses automate, engage, optimise and succeed.
How does it work? From the day they’re hired, managers can assign new employees a personal Ento account. Not only does this serve as an official welcome gesture, but it also supports seamless communication. From group threads and one-on-one chats to managing personal details, swapping shifts and requesting leave, Ento empowers staff with an ‘all bases covered’ set of instant communication tools. The result? A staff centric onboarding process, and all the tools you’ll need to engage your most valuable resource – your people.